Short at .995. This pair is substantially overbought now after its 415 pip run up over the past 4 days.
Profit target ~ .985 at the rising support trendline from 9/28.
Stop loss ~ 1.001. Technical merit for this level not as clear to me but parity seems like it would be a significant psychological resistance at this time.
A 2:1 profit to loss setup will always be profitable over the long run.
Now just sit and wait for that post wave 5 drop Ata has been predicting.
Profit target ~ .985 at the rising support trendline from 9/28.
Stop loss ~ 1.001. Technical merit for this level not as clear to me but parity seems like it would be a significant psychological resistance at this time.
A 2:1 profit to loss setup will always be profitable over the long run.
Now just sit and wait for that post wave 5 drop Ata has been predicting.
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